The growth of program spending in Canada was running at 8% a year for almost a decade.
Posted by The MeidasTouch Podcast, Checked
- Sources
- 1 contradict1 support
- Said
- 1 time·
- Confidence
- 50%
The MeidasTouch PodcastOct 22, 2026
The sources support rapid federal program spending growth over roughly the past decade, but not the specific 8% figure. Reuters reports Carney saying the average exceeded 7% a year, and the Fraser Institute's nominal totals (75.5% rise from 2014/15 to 2023/24) imply roughly 6.4% a year, so 8% overstates the sources' range.
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What was said
… But you will see tough decisions that this government has taken, last year's budget, this upcoming budget. I won't preview the budget, but just keep in mind that the growth of program spending was running at 8% a year for almost a decade. We brought it down to 2%. We're very clear about how we use our scarce taxpayer dollars. That's what they are, taxpayer dollars, and that is a focus on affordability and growing this economy. Capital investment is going to grow this economy. …
The MeidasTouch Podcast · · from the transcriptPost →What we found
Contradicts. The Fraser Institute reports nominal program spending rose 75.5% from 2014/15 to 2023/24, which works out to roughly 6.4% a year, below the claimed 8%.[2]
Supports. Reuters reports Carney saying federal spending had risen at an average rate exceeding 7% annually over the past decade, which matches the 'almost a decade' timeframe and the sense of fast growth.[1]
Context. Reuters' 'exceeding 7%' is a lower bound that does not pin the rate at 8%, and the sources give competing estimates between about 6% and 7%+ depending on the measure used.[1][2]
Sources
2 sources: 1 fact-checker, 1 not rated
- 1Canada's budget will focus on austerity and investment, says PM Carneyreuters.com · fact-checker · cited for: supports, context
- 2A Case for Spending Restraint in Canada: How the Federal Government Can Balance the Budgetfraserinstitute.org · not rated · cited for: contradicts, context
Where this claim was made
Said in 1 published post
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